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of the attention is on china. the north's most influential ally. today on china report, we look at the response from leaders in bejing and what motivates their longstanding relationship with an isolated regime. >> reporter: chinese media were quick to respond to the rocket launch. tv networks ran a news clip using reports by foreign news agencies. but it took a full six hours for the chinese government to issue a formal comment. it was made during the regular press conference of the foreign ministry. >> translator: it's regrettable that north korea went ahead with the launch, despite the international's community close attention. as a member of the united nations, the north has the obligation to respect security council resolutions. >> reporter: china is north korea's neighbor and the most important of its fuel lines, also an economic superpower, since fighting the korean war together, the two countries have maintained close relations. in september, north korea held a briefing in beijing, calling for massive investment in a special economic zone. shape, and the only way it will improve is thro
is on china. the north's most influential ally. today on china report, we look at the response from leaders in bejing and what motivates their longstanding relationship with an isolated regime. >> reporter: chinese media were quick to respond to the rocket launch. tv networks ran a news clip using reports by foreign news agencies. but it took a full six hours for the chinese government to issue a formal comment.ititititititit press conference of the foreign ministry. >> translator: it's regrettable that north korea went ahead with the launch, despite the international's community close attention. as a member of the united nations, the north has the obligation to respect security council resolutions. >> reporter: china is north korea's neighbor and the most important of its fuel lines, also an economic superpower, since fighting the korean war together, the two countries have maintained close relations. in september, north korea held a briefing in beijing, calling for massive investment in a special economic zone. the north's economy is in dire shape, and the only way it will improve is thr
we're really engaging diplomatically with china and other members of united nations security council on tougher resolutions and possibly sanctions. >> making any progress? >> you have to talk to the ambassadors in new york and the sea to figure out what is going on. -- d.c. to figure out what is going on. >> in beijing, what is the view among the leaders you can tell of kim jong-u7n? -- kim jong-un? >> china would like all the parties that are part of this sixth party talks her to get back to the table, to see if we can encourage better behavior from north korea as opposed to imposing sanctions now and trying to coerce north korea into the fold. that is a difference of opinion of strategy. china really believes we ought to be engaged with north korea. united states feels every time we've tried to engage with north korea, they basically turnaround and failed to respond. >> what is the most important thing the chinese leaders want from you every day? >> the want greater cooperation with united states, because the understand how important united states is for their own economy.
of course. so trying to -- china is a much interest in canadian energy and natural resources. we are very much interested in building trust, strategic trust and cooperation with china. and from enable perspective, of course, i'll give you one sort of anecdote. you were referring to this the islands, two months ago i attended the western pacific naval symposium hosted -- and have the opportunity to sit between the deputy commander of the people's liberation army navy, and the commander of the ambassadors japanese maritime self-defense force, a euphemism for the japanese navy. it was at a time when the island was leading on cnn and bbc. i thought as i was sitting between two them there's an opportunity for a canadian to do something extraordinary from an naval diplomatic perspective and put this thing to bed. [laughter] >> how did that go? >> not too well, not too well. [laughter] which is my point. i spoke with the chinese admirals interpreter. i spoke with admiral commander in english, a great conversation. but never was the bridge build or even considered. and i think one of the key issu
its territory. an airplane from china's maritime authorities intruded into japan's airspace over the senkaku islands. that's in the east china sea. jets were scrambled to the scene. japan controls the senkaku islands, china and taiwan claimed them. the japan coast guard says one of its vessels spotted the plane thursday morning and reported it to japan's defense ministry. it was about 15 kilometers south of the uotsuri islands. part of the senkaku island chain. the minister says eight f-15 fighters from the air self defense force based in okinawa were dispatched in response. but when they arrived the chinese plane had already left japanese airspace. the coast guard photo of the chinese aircraft shows letters on the plane's body indicating it belongs to china's state oceanic administration. the defense ministry says this was the first such intrusion by a chinese aircraft since the self-defense forces began keeping records. the coast guard says the plane was initially spotted around 10:40 a.m. local time. coast guard officials confirmed the intrusion at 11:06 and the plane moved ou
and this brings back sweet memories of when china was very isolated during the cold war. in the end, there's a whole new generation of people who have been much more sophisticated understanding, but that i would say it's a very strong autonomic response to the united states beefing up its forces in australia and then they wake up one morning and burma has flipped on them. it was eternal in terms of their faithful allies. these things caused a lot of consternation. so the old fear of diagnostically speaking in china is to fear with sand and travel without. these things happening around them excite them. >> how much does it add to that anxiety is that all? >> is the most problematic relationship now in japan and this is not good. i have to say i think japan probably hasn't played this as well as it might have, but i think on the other hand it would be fair to say also that it serves china's purposes to have something happening outside his orders which can rally people at home. there's a lot of complex things going on in each of these reactions to foreign movements outside. >> which ma
ago, henry kissinger, then president nixon's national security advise secretly flew to china, beginning a string of meetings that would eventually open that isolated eastern nation to the western world. that opening checked soviet expansionism and in a sense was the beginning of the end of the cold war. >> this was the week that changed the world. >> it was also the beginning of china's entry into the world economy, which has resulted in that country becoming the world's second largest economy. >> red china's -- >> but back then, the idea of a reproachment with china would have been rejected as pure fantasy. china was a radical revolutionary communist regime that had been fighting america and its allies across the globe. how did the decision come about in the midst of such intense opposition? what were the internal maneuverings that paved the way? the secret dealings that made it actually happen? who better to ask than the man himself, dr. henry kissinger. >> this is what the world looked like when you enter into the white house with richard nixon. the united states has had n
.5%. a representative of the chinese academy of social sciences said the economy will grow 7.7%. >> translator: china's exports are slowing because of the european debt crisis and the global economic slow down. >> li said economy bottomed out in the july through september quarter. the country's consumption and industrial output improved in september and october. he predicts growth will rebound next year to about 8.2%. he said increased public investment and more monetary easing would spur the economy. but li called for flexible government policies if the situation in europe gets worse. >>> the new leader of the chooeds communist party is sending out mixed signals. xi jinping says he wants to pursue a peaceful foreign policy. at the same time, china is locked in territorial disputes with japan and several southeast asian nations over islands in the east and south china seas. xi told a group of foreign academics in beijing that china poses neither a challenge nor a threat. >> translator: looking at china's history, cultural traditions, and current conditions, china will never adopt a policy of dominanc
will look at the new communist party of leadership in china and that impact on u.s.- china relations. hosted by the center for strategic and international studies in washington, this is an hour. i'd also like to recognize former ambassador to china jim sasser who's sitting right there, one of my close friends. thank you for coming, senator. glad to see you. well, the panel is a really good one, kurt campbell, assistant secretary of state for east asia and pacific affairs. he became -- came to that job in 2009, previously the ceo and co- founder of the center for a new american security. he was a professor at harvard, associate professor of public policy and international relations at the kennedy school. chris johnson, senior adviser and freeman chair in china studies here at csis. his most important public service, as far as i'm concerned, is he gave me a lot of help in preparing for the presidential debate. and i'll be -- always be grateful for that, chris. he's frequently advised senior white house, cabinet, congressional, military and foreign officials on chinese leadership and on beijing
-and-neck in manufacturing with china. now, that is a staggering statistic. we make 20% of the world's goods with about 10% of our economy. china makes about 20% of the world's goods with 40% of its economy. we are neck-and-neck as a manufacturer, and it's due to a six-time productivity advantage that we enjoy over china when it comes to manufacturing, and we even have a productivity advantage over countries like japan and germany, countries thought of as manufacturing leaders. i wondered, and i started asking myself, well, what is it that gives us this productivity advantage? what is it that gives american manufacturers this ability to compete? i wanted to go and talk to rail manufacturers because one of the things that when you're in washington and in bureaucracies, you know, you have a lot of people pontificating about the state of american manufacturing and what we need to do without actually engaging and talking to manufacturers, and, particularly, not talking to small and medium-sized manufacturers. the large manufacturers, the ceos, are often represented on policy think tanks, but the reality is al
and partners such as singapore and the philippines and expanding our dialogue in exchanges with china. we are also an handed our presence and capabilities in the region. that includes -- expanding our presence and capabilities in the region. that includes allocating our naval fleet to have a 60/40 split between the pacific and atlantic oceans, increasing army and marine presence in the region. locating our most advanced aircraft in the pacific, including new deployments of f- 22's and the mv22's to japan. and lay the groundwork for the first overseas deployment of the f-35 joint strike fighter. the third element of our strategy is that as we do force projection in the asia-pacific and middle east, we still have to maintain our global leadership and presence by building innovative partnerships and partner capacity across the globe and using these innovative rotational deployment as a way to do exercises and training with other countries, developing their capabilities so they can provide for their own security. in latin america, africa, europe, and elsewhere. the past decade of war has rein
hard currency on the open market. >> and though the soviet empire is a thing of the past, china is echoing the aspirations of its predecessor. >> there's no question that we're going to face a very serious challenge in the years to come, dealing with a rising china that wants to be dominant and hegemonic in its own region, wants to control sea lines of communication, wants to control the south china sea. and we have allies who stand to lose from that and look to us for support. i think that's the likeliest area of actual conflict. >> the pentagon will often say and right now the u.s. spends something like 4, 5, 6 times what china spends on its defense spending. and the big question then becomes what is china's intention? (instrumental music) >> in a national call to arms defense secretary leon panetta warned the threat of a significant cyber attack against america is already here. >> the collective result of these kinds of attacks could be a cyber pearl harbor. >> what are the threats american's face in this century? with the attacks of september 11th, the u.s. has had to comple
-wage china when he was on the board of gateway computer. he wants to turn michigan into the same low wage environment we see in china. >> reporter: looking around here live at the scene at the capitol, you have teachers who took the day off from school to demonstrate. you have united auto workers. we saw several big trucks from the teamsters. a lot of people sympathetic to efforts of these workers out here making their voices heard, expressing their discontent with what has happened. governor snyder told me a short time ago this is in response to a ballot initiative you remember failed in november. that was proposition 2. it would have put collective bargaining in the michigan constitution. it would have made it untouchable by any kind of new legislation. that is part of the complaint from the democrats. they say it is politics and retribution. also the complaint you hear from democrats it happened so fast. it happened without the public having time for input. what you see on the lawn is something governor snyder referenced f there wasn't enough time for public input you wouldn't have all
. >>> japanese auto parts makers are trying to find new business channels at a major trade fair in china. they're struggling to survive in the world's biggest car market amid souring relations between the two countries. 30 japanese suppliers are among 4,000-plus companies from around the world showcasing products and services in the fair that started obtuse. chinese consumers are shunning japanese products since a bilateral territorial dispute broke out in september. some have seen sales plunge in china by half. others remain unable to keep plants going. >> translator: i think the chinese market has big potential. we're pinning our hopes on china, being able to keep staying afloat. >> japanese officials making active sales pitches at the fair to potential clients in the u.s., europe, and china. >>> the nobel prize winner is eager to get back to work. >> he shared this year's nobel prize in physiology or medicine with a british scientist. his family joined him at the ceremony in stockholm. >> he received the award for his work with stem cells. >>> japanese children are scoring better in math a
history tv on c-span3. >> china's emerging global power and maritime strategy were the focus of a panel discussion at the halifax international security forum. panelists discuss the territorial disputes involving japan in the east china sea, cybersecurity and international diplomacy. this is an hour, ten minutes. >> welcome back, everybody. this session for miscalculation, china and the rise of confusion or confucianism. i'd like to hand over to steve clemens who's moderating this session. .. >> thank you all for joining us. when i was thinking about the title today and thinking about our panel, it occurred to me, and i went online to find a chinese event that is being held right now looking at u.s. grand strategy, canada, japan and india. there are no canadian, japanese americans or canadians on china's panel. don't have any chinese with us today but we should have a lot of fun discussing that our national strategies but involving in the asian pacific region and with china but i want to acknowledge that that voice wasn't with us today. that might give us more room to run. because we do
india and china to develop into a completely distinct world civilizations without having much to do with each other for long-term history. let's take that image that you offered of america, this amazingly simple geographic place with all of these natural harbors and rivers that run the right way but that was true for thousands of years and didn't leave to the development to rate civilization and european civilization and began to make powerful use of those the geographical advantages are obvious, so help us think about why it's geography that we should focus on as opposed to the cultural or civilization will aspect. >> that was due to the development of the failing chips which enable the croswell landed voyages, so that development of technology while it is short in distance it did not negate, it made it more important because it opened up a whole new geography and the world trade system cultural and economics flow from the geography because what is culture? it is the accumulated experience of a specific people on may specifically and skate over hundreds of thousands of years that l
clash with china. i said, i was not concerned of that. and when asked why, i said, i think, well, because we have the best damn navy in the world. this was not an extravagant or hyper bolic statement t. was simply a statement of fact. it was a fact that not only i knew. it was a fact which other nations understood. even one carrier battle group had more military fire power than any other nation's entire navy, and we had two of them on the way to taiwan. so, i was confident that no one was going to challenge the fleet that we were sending there. this -- and in fact, they did not challenge it even before our two carrier battle ships arrived in taiwan, the crisis was over and the maneuvers had been subsided. this positive result was possible because of the military capability of our navy and because both carrier battle groups were battle ready and able to steam towards their destination in less than 24 hours. so, why were we able to respond so effectively? certainly one important reason, because the technology in our ships was the best in the world. the results are true, that the t
that the south china sea is a potential source of energy supplies for china and that there is a contention among the nations in that region as to where the ownership and rights of access are to the south china sea. and this is conceivable that china might seek to reestablish its claim there by military coercion and that could lead them into a confrontation with the united states' desire to maintain free access. the best way of avoiding that military conflict is what we should see because the military conflict with china would be catastrophic for both nations, indeed for the whole region. so, we want to avoid that. i believe the best way of avoiding that is by maintaining a -- continuing to maintain a strong naval presence in the region, and by having an unambiguous commitment to doing that. i believe that our new national security strategy is that unambiguous commitment, and i believe that the u.s. navy is capable of maintaining that unambiguous military strength. as we sit here this morning aboard the uss macon island, in san francisco bay, looking out to the pacific, it is easy to believe that
economies due to the european downturn and cooling ties with china. another negative factor is the drop in domestic car sales because state subsidies for buyers of fuel efficient cars expired in september. for the nonmanufacturing sector the sentiment index was down by four points from the previous surv survey. looking aahead the to the next three months, major manufacturers expect a slight improvement as they hope the u.s. and chinese economies recovery. they're concerned that cooling consumer sentiment will persist. japanese shoppers are spends less, and that's got retailers depress depressed. as tremendous to try get people to spend more some may fuel a price war. >> reporter: major supermarket chains have slashed t prices over the past three months on more than 350,000 products. >> translator: customers are become increasingly price conscious. we hope discounts on daily necessities will encourage them to visit more often and boost our sales. >> reporter: furniture manufacturers are opening a 10% to 40% discount on nearly 900 items. >> translator: consumer spending in the overall eco
counterterrorism, and then the u.s. ambassador to china, gary locke, on the relationship between the two countries. >> our first experience was to come in a different way than every other family up here. probably never happen again in history. and it's interesting because after dad was sworn in, we went and took a picture, photo of the family, behind the oval office desk, and that night we didn't get to move into the white house because nixon had left so quickly, so unexpectedly, they left their daughter and son-in-law, david eisenhower, to pack all their clothes and belongings. it literally took seven or eight days. we had to go back to our little house in alexandria, virginia, suburbia, the neighborhood was surrounded by secret service. we had been living there dad was vice president. and i'll never forget. that night mom is cooking dinner. literally, we're sitting around the dinner table, and mom is cooking dinner, and she looked over at my dad and goes, gerry, something is wrong here. you just became president of the united states and i'm still cooking. >> steve ford, linda johnson robb, and j
with modest gains. europe holding onto gains and china up nearly 3% over night as shanghai catches a break. our road map begins with a $20 billion deal. freeport mcmoran getting into the energy business making two acquisitions. plains exploration and mcmoran exploration. >>> concerns over the u.s. economy as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's
demand there, and exports to china fell 14.5%. chinese consumers are shying away from japanese goods due to ongoing territorial dispute. >>> japanese university students are busy trying to land a job in an economy that's not proving that welcoming. the japanese firms hire them en masse before they graduate. and third-year students started their job hunting in earnest this month. before most looked for jobs at big firms, but that may be changing. nhk world's shio tanaga tells us more. >> reporter: more than 100 students crowded into this recruitment seminar in tokyo. the company publishes free magazines an has only about 400 employees. until recently small firms such as this one often struggled to attract any students to seminars at this university. nami kitajima has been looking for sales work. she says she doesn't care about the size or fame of the company. >> translator: i'm not looking at how big the firm is. the issue is whether i can gro personally through the company. >> reporter: traditionally, most students have tried to land jobs at leading firms. the belief was that those compa
countries in having a pyrotechnics display. australia, china and russia are well into 2013. we are tracking the celebrations. >> residents in samoa were among the first to welcome 2013. these to be the last but a year ago, they jumped to the west of the international dateline. the spectacular start to the new year came in sydney harbour, launched by the australian superstar, kiley been no good. -- kylie minogue. 7 tons of fireworks filled the air above sydney harbour bridge. this city's style is rather different. john yang has held what for help -- it's believed to be the first public new year celebration in north korea. burma has joined the global party. ♪ >> the end of the year would not be complete without the viral pop hit, "gangnam style" being performed with great enthusiasm. while hong kong celebrate with a virtuous so show over victoria harbor. fireworks lit up moscow's red square. in dubai, they filmed the midnight moment under the world's tallest building. the gulf states is eager to take its place among the world's best known venues for the dawn of the new year. >> no happy ne
of course its friend, china is on the security council and has blocked those kind of actions in the past, jenna. jenna: interesting that you mentioned china. is there any indication that the north koreans had help from the outside? any sort of outside country with this launch? >> reporter: well there is no evidence per se but it is widely known that the north koreans could not get the parts for their ballistic missile program without having those parts flown through china, bypassed through china. there also have been reports on the voice of america that an iranian team of scientists have been seen recently, in recent days in north korea. so there is questions about the relationship between, and any help that may have been provided to the north koreans by the iranians. clearly the north koreans are very proud of this long range ballistic missile launch. the one in april failed miserably. and for the first time then they admitted that it did fail publicly. this time they extended the window and did not invite foreign journalists to watch this and simply announced when it was successful. th
. >> excellent news out of china. pmi is an index or the ask people how confident you are feeling, indicating the fourth quarter of the year, china has seen a very marked pickup in economic growth. that is extremely good news because china had been having a pretty sluggish time of things over the course of the first half of 2012. this is leading the optimism that 2013 could break away from the economic doldrums. nonetheless [indiscernible] >> there you go. thank you very much. u.s. secretary of state hillary clinton is receiving treatment at a hospital in new york for a blood clot. she suffered a concussion earlier this month after fainting and falling down. the blood clot was discovered during a follow-up medical examination rea. >> hillary clinton earlier this month. it is believed it was while on her trip to europe that the u.s. secretary of state contracted a stomach virus that left her severely dehydrated. on her return home, she collapsed and severed a concussion. during a follow-up examination, doctors have discovered a blood clot. mrs. clinton is being kept under observation in this b
, with russia and china, containment when it came to russia was countering their expansive capabilities. >> rose: right. >> our own -- when it came to their nuclear capability we were talking about deterrence. >> rose: right. >> and so i think first we want to contain iranian influence in the region, but i think the question that people are -- that what the president is really addressing is, or would we be content with deterrence? >> right. >> and there i think the difference in the ayatollahs and their religious, their they cratic approach to the world, their threats to destroy israel make them a more worrisome, significantly more worrisome possess sorry of nuclear weapons than other nuclear states. >> rose: because they have a different decision al type structure. >> yes. >> rose: from russia, and the soviet union from going into europe once again, deterrence is mutually assured destruction. and so then, does the question of value and life, different because of a culture that can produce suicide bombers mean that there -- means that will not work in the end or do you say no nationable and the
's turn to the global economy. associated press reporting that china has surpassed the u.s. as the leading trade partner. this comes as china announces the inflation rate rose 2% one month alone. sign of an economy gaining strength. what does it mean? brenda buttner, anchor of "bulls and bears." i was reading this article where shoppers in beijing have seen the prices of vegetables double in one week alone. inflation is a problem over there. what is causing it? >> basically it's not a bad problem, it's growth. china has numbers we can only dream of, growth of about 8%, we're below 2%. their factory output was up 10%. retail sales, 15%. so it is basically growth driven not supply side driven which is the kind of inflation you want to see. it's only 2%, that is well below the target of 4% is. it came down from 6.7%. >> gregg: so it's an issue not really a problem and outweighed by the huge growth. how does the inflation american consumers if at all? >> we buy a lot from china. it may be that some of the input may be more expensive. we may have to pay more, but it's more that china is becomin
will find out how it is changing china. is the season to engage in psychological warfare. and least, that is the accusation being made by north korea against its neighbors to the south, and it has to do with a christmas tree just west of seoul, korea, and the problem is that can be seen miles away in north korea. the north has threatened to the south with retaliation but has not said how exactly. children in one town have been given their christmas presents by elephant at their school. they enjoy the festivities. it is a regular feature of the town, but it was canceled because of flooding. now, when would you need an ax to go swimming? well, here is one example. this is north of the capital of berlin. they were breaking up the ice and then taking a dip. you are watching "bbc world news." these are our headlines. two firefighters have been killed and another wounded in new york state. it happened as they responded to a blaze. an aide to advisor has been killed in afghanistan, the first killing of its kind, shot by a woman in police uniform. and another six police dead. it is now more
to china's extravaganza. most charismatic, pat? >> rg3. redskin rookie of the nfl. maybe mvp. has set this city on fire. >> marco rubio. senator from florida whose articulate to the point of almost being dem ogic. . but he is a riveting speaker and he has a future. >> are you afraid of him. >> no. i just pointed out his attributes. >> he is richly republican. you know that? >> right. but the democrats have their bench, too. >> i mean, after that, you know, the democrats still going to embrace you? >> i still think that bill clinton's speech at the democratic convention was the most exciting moment of that convention. turned around the whole convention and once again revealed the great talents of bill clinton. >> does he save it? >> you are showing your brilliance again. >> i absolutely agree. a better job than barack obama did. >> i want to add to the clinton tribute. the most charismatic bill clinton. for stellar performance of the democratic national convention. his 40 minute speech was critical for a second term for barack obama. it redefined the global economic crisis. he describ
, get charlie. somebody get charlie, please. >> it literally sounds like a bull in a china shop right now. >> how many times have i said one simple thing. get charlie. >> oh, my gosh. >> he almost had him. >> charlie almost takes a giant bite out of the squirrel. it runs underneath the couch. you can hear things falling all over the place. charlie causing most of the damage. >> that's why the dad says how many times do i have to say will somebody get charlie. >> right there. how come the front door is not open. >> no one gets charlie. no one goes to the front door, why is the front door not open. >> how come nobody pays attention to dear onold dad. >> everybody is terrified of the squirrel. they are all running. >> officially my new christmas video. i love that. >> all right. that's enough. >> during this time of the year, one of the very exciting things to do is sit on santa's lap so you ask him for your favorite gift. these two little girls, they are in washington. that's 9-year-old brooklyn and 8-year-old rachel. they are about to meet santa and ask him for something very special.
. >> i don't think that's stuff -- >> lord, have mercy. >> they discontinued my china pattern. >> still buying china? whole sets of china? >> are you [ bleep ]. >> that one -- >> don't get your pantiness a wad. >> is there a different between a twist and the wad? >> wad means you are grumpy. >> best way to not get pregnant, keep an aspirin between your legs. >> what? >> hold an aspirin webetween yo legs you ket get pregnant. sheila watkins, you want to see, click on best of "rtm.." >>> it's video by air. >> drop your order right where you are. >> see how the burrito bomber works, next, "right this minute." >>> and still to come, it's a form of fighting that -- >> probably the most crazy, insane thing i've seen in my life. >> now hear what it's all about from the leader of what he describes as. >> a band of sweaty, smell you socks. >> and a kid with a strange you're on timeout leo! some things won't last 25 years. ah! woof! some things will. now's a great time to get at&t u-verse tv. make the switch. [ female announcer ] call now to get at&t u-verse tv for only $29 a month for 6 months,
, as of right now china owns $1.15 trillion of our debt. then, number two on the list, is japan with $1.13 trillion of our debt. now, this is interesting. out of this debt number three on the list is opec. opec is an entity. that's the countries of ecuador and venezuela and india and bahrain and iran and iraq and kuwait and amman and qatar and saudi arabia and the u.a.e., algeria, ga been a, -- gabon, nigeria. they're now number three on the list and they own $267 billion of our debt. brazil comes in at number four, $250.5 billion. and then number five on the list, new to the list, the top five list, the caribbean banking centers. now own $240.4 billion of u.s. debt. by the way, caribbean banking centers are the bahamas, bermuda, cayman islands, netherlands and panama. this is who owns us. this is who owns our debt. and this is why on this side of the aisle, what we continue to say is the spending has to be dealt with. we have seen -- we've heard from everybody. we are hearing from economists all around the globe. and they repeatedly say what we are saying, what we've been saying for ye
for the group. he was promoted second-in-command earlier this year. >>> back to the economy now, china apparently going on an american spending spree. a chinese company agreed to buy a big chunk of insurance giant aig for more than $4 billion after the company got a huge bailout during the u.s. financial crisis. that is not the only bargain that china is picking up from u.s. taxpayers lately. stuart varney on this morning, head of "varney & company" on fox business network. good morning, stuart. good to see you. >> good morning, martha. martha: they're gobbling up our assets in many ways . what do you make of it. >> they are spending the money they have got buying american assets cheap. you mentioned aig. a chinese company is paying $4 billion for aig's plane leasing business. aig remember got $189 billion as a bailout fund that was back in september of 2008. the taxpayers still are the largest shareholder in aig. we sold the plane leasing business to china cheap. second item, a 123 batteries, americans taxpayers gave that company $249 million in grants and another 250 million in tax s
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